California Resources Corporation Expecting Strong Fourth Quarter 2023 Results; Schedules Fourth Quarter and Full Year 2023 Earnings Conference Call
2024年1月4日 - 8:00PM
ビジネスワイヤ(英語)
California Resources Corporation (NYSE: CRC)
updated select guidance ranges for the fourth quarter of 2023 in
conjunction with its participation in various investor conferences
later this month.
- CRC’s fourth quarter of 2023 free cash flow1 is expected to
range between $40 to $60 million primarily due to higher margins
earned from natural gas marketing activities and lower investments
in carbon capture and storage (CCS) related subsurface land
easements. This free cash flow1 update exceeds the previously
announced fourth quarter 2023 guidance range of ($5) to $30
million.
- Total net production for the fourth quarter of 2023 is expected
to range between 82 – 84 thousand barrels of oil equivalent per day
(MBoe/d), which falls in line with previously issued guidance.
Approximately 60% of total net production for this period is
expected to be oil.
- Capital investments for the fourth quarter of 2023 are expected
to be in the $65 to $75 million range from the previously announced
guidance range of $65 to $81 million. Reduced capital spend in the
fourth quarter of 2023 was primarily related to timing of key
projects and continued efficiency gains.
Fourth Quarter and Full Year 2023 Earnings Release and
Conference Call Details
CRC plans to release its fourth quarter and full year 2023
financial results on Tuesday, February 27th after market close. The
Company will hold a conference call to discuss these financial
results on Wednesday, February 28th at 1:00 p.m. Eastern Time
(10:00 a.m. Pacific Time).
We encourage participants to pre-register for the conference
call using the following link:
https://dpregister.com/sreg/10184870/fb2ecfed18. Callers who
pre-register will be given a conference passcode and unique PIN to
gain immediate access to the call and bypass the live operator.
Participants may pre-register at any time, including up to and
after the call start time.
To participate in CRC’s conference call, either dial (877)
328-5505 (International callers please dial +1-412-317-5421) or
access the webcast at www.crc.com. A digital replay of the
conference call will be archived for approximately 90 days and
available on the Investor Relations page at www.crc.com.
1 Represents a non-GAAP measure. For all historical non-GAAP
financial measures please see the Investor Relations page at
www.crc.com for a reconciliation to the nearest GAAP equivalent and
other additional information. Free cash flow is equal to net cash
provided (used) by operating activities less capital
investments.
About California Resources
Corporation
CRC is an independent energy and carbon management company
committed to energy transition. CRC produces some of the lowest
carbon intensity oil in the US and is focused on maximizing the
value of its land, mineral and technical resources for
decarbonization efforts. For more information about CRC, please
visit www.crc.com.
Forward Looking
Statements
Statements contained in this release that state the Company’s or
its management’s expectations or predictions of the future are
forward-looking statements intended to be covered by the safe
harbor provisions of the Securities Act of 1933, as amended, and
the Securities Exchange Act of 1934, as amended. It is important to
note that the Company’s actual results could differ materially from
those projected in such forward-looking statements. Factors that
could affect these results include those mentioned in the documents
that the Company has filed with the Securities and Exchange
Commission (the “SEC”).
The Company undertakes no duty or obligation to publicly update
or revise the information contained in this release, although the
Company may do so from time to time as management believes is
warranted. Any such updating may be made through the filing of
other reports or documents with the SEC, through press releases or
through other public disclosure including disclosure in the
Investor Relations portion of the Company’s website.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240104511048/en/
Joanna Park (Investor Relations) 818-661-3731
Joanna.Park@crc.com
Richard Venn (Media) 818-661-6014 Richard.Venn@crc.com
California Resources (NYSE:CRC)
過去 株価チャート
から 4 2024 まで 5 2024
California Resources (NYSE:CRC)
過去 株価チャート
から 5 2023 まで 5 2024